DislikedHe uses FXDD (Atleast according to the first 115 posts in this thread!) CA and where Big E is both are PST, I believe brokers create candles via their location time which is why ONDA / FXDD are off by an hour on the 4h... I have an fxdd account so i can always see the same things hes seeing on his charts as I'm learning -everything- I can and will be for some time...Ignored
- #7,582
- Jul 8, 2011 4:53pm Jul 8, 2011 4:53pm
Hello Fellow Traders.
I feel ashamed to say that I have been lurking in the background, soaking it all up and feeling pretty much like I had nothing to contribute. It was all being said better and faster by other people and all I could do is hang on.
So this is my attempt to give back and help all the Newbie’s and maybe even some Old Timers by posting the MT4 Chart management Tips and Tricks in an attachment following below. I also share what have been for me some hard won insights concerning good trading practices.
It has occurred to me that this...
Wow, what a great doc! You have some MT4 keyboard and mouse shortcuts I've never seen before. And your trading wisdom is certainly not just for noobs! Thanks for making the effort to put that together it's a great contribution!
Luck occurs when preparation meets with opportunity.
- #7,586
- Jul 8, 2011 8:09pm Jul 8, 2011 8:09pm
Very nice post dcginc, it' good to here from a professional who is trading this system for a living.
'Thanks again, more than I can give, to ALL the pros, senior traders, noobs, and everyone who contributes. And especially to Big E!
Luck occurs when preparation meets with opportunity.
- #7,587
- Jul 8, 2011 10:06pm Jul 8, 2011 10:06pm
I have to trade the H4 charts at 4, 8, and 12 and for the most part I do not find any setups. are these bad times for good setups? I am looking at the prime 8 pairs plus afew others. I tried to have the broker (forex) change the times of the H4 to Big E's times of starting ie, 10 2 and 6 but they said they could not do this. What am I doing wrong. no trades means no opportunities. I am on the west coast so I have been staying up all night and I am gettin frustrated. If anyone finds good trades at these times could you let me know? I can then confirm...
The time of your candles should not really matter for picking up signals - you will miss some signals that are seen on other charts, and you will see some signals others will miss. It only matters if you want your charts H4 to look the same as some other posts in the thread. Even those aren't always the same. And btw all the other MT4 TFs will be the same.
If you want your candles to match Big E's or anyone else's all you have to do is get a demo account with a broker whose data feed is in the tz you want. You can do your technical analysis on the demo account and place trades in your live account on whatever platform or tz you want. Of course the broker must support MT4. I do this. My broker is on EST. My live account is on their proprietary platform but my demo account is MT4. So I use the MT4 demo account for analysis but then I execute trades on the live account using the other platform. You can do the same with the demo account to solve your H4 candle time problem.
If you are not seeing setups just have patience. This happens to me, too, and it can be frustrating. But lately I have been much more diligent about checking the H4 times EVERY TIME WITHOUT FAIL. I am finding more setups, and keep my head in the game better. This is a business, right? Time to go to work every 4 hours, that's the job. Except when I'm asleep. When Bez and those guys are working, making pips. Haha!
Remember, Big E is also on the west coast so you're in good company. Read his posts about how he does it. He sets he trades, goes to bed, gets up to check on them once, goes back to bed, then closes them all in the morning. That's one way. There are probably others. But diligence is the key, at least for me.
Most of all, NEVER GIVE UP! Keep at it, stick with it. This works! DON'T GIVE UP! People here are making it work, and you and I will, too.
Mega pips to all!
Luck occurs when preparation meets with opportunity.
- #7,588
- Jul 8, 2011 10:15pm Jul 8, 2011 10:15pm
- | Joined Oct 2008 | Status: Learning | 1,057 Posts
Hi Big E
A very big thanks to you mate!!!!
I had my first profitable week on a live account this week.
Even after having a number of negative and BE trades, I was still in positive (total of 209 pips).
Can't wait for next week.
By the way, I took 11 trades this week.
As another member previously wrote, Big E has given us a system and tools to enter into profitable trades and to make money for a living
, the MM side of things is up to the individual.
I have enjoyed reading on this thread the way that other traders use this system and use their own MM. I have found all that info very useful.
However, I think that it is up to the individual to work out their own style and their own MM.
There is nothing wrong in making money from 10 or 1 trade as long as in the long run you are profitable.
For the newbs, feel free to try the different styles of using this system and MM on demo, when you feel confortable with a particular way and your profitable consistantly, start trading live.
Big E, my journey has been long and I have a lot more to learn, but I am loving TMS!!
Cheers mate!!
A very big thanks to you mate!!!!
I had my first profitable week on a live account this week.
Even after having a number of negative and BE trades, I was still in positive (total of 209 pips).
Can't wait for next week.
By the way, I took 11 trades this week.
As another member previously wrote, Big E has given us a system and tools to enter into profitable trades and to make money for a living
, the MM side of things is up to the individual.I have enjoyed reading on this thread the way that other traders use this system and use their own MM. I have found all that info very useful.
However, I think that it is up to the individual to work out their own style and their own MM.
There is nothing wrong in making money from 10 or 1 trade as long as in the long run you are profitable.
For the newbs, feel free to try the different styles of using this system and MM on demo, when you feel confortable with a particular way and your profitable consistantly, start trading live.
Big E, my journey has been long and I have a lot more to learn, but I am loving TMS!!
Cheers mate!!
What you do is a reflection of you....what I do is a reflection of me.
- #7,590
- Jul 9, 2011 12:52am Jul 9, 2011 12:52am
Good job buddy i see that you(even i) got the much needed confidence with the help of TMS.
Thanks to the creator n rest of the TMS followers
Thanks to the creator n rest of the TMS followers
Hi Big E
A very big thanks to you mate!!!!
I had my first profitable week on a live account this week.
Even after having a number of negative and BE trades, I was still in positive (total of 209 pips).
Can't wait for next week.
By the way, I took 11 trades this week.
As another member previously wrote, Big E has given us a system and tools to enter into profitable trades and to make money for a living
I have enjoyed...
- #7,591
- Jul 9, 2011 12:57am Jul 9, 2011 12:57am
Great Encouraging Post, Thanks buddy, this is all we want ,some guidance,some encouragement.
This is why you guys are professionals.
Thanks again
This is why you guys are professionals.
Thanks again
I have similar trouble. I am in EST - New York time. I'm constantly getting mad that all the Brits and European guys are getting all the pips while I'm asleep!
The time of your candles should not really matter for picking up signals - you will miss some signals that are seen on other charts, and you will see some signals others will miss. It only matters if you want your charts H4 to look the same as some other posts in the thread. Even those aren't always the same. And btw all the other MT4 TFs will be the same.
If you want your candles...
- #7,592
- Edited 8:56am Jul 9, 2011 2:25am | Edited 8:56am
- Joined Jul 2011 | Status: Gold Again | 10,557 Posts
Bez posted his rules a week or two ago. I think they're great and I check them every time before entering a trade now. Here they are for you.
1. Trading with the trend, if Daily is trending don't trade against it (it will win).
2. Good angled cross on TDI.
3. Cross below 50 if long or above 50 if short.
4. Good looking candle with wick.
5. Not trading straight into SR.
He also added in a later post that he likes a strong candle to close over the yellow MA.
Thanks again, Bez!
Trends must end at some point, and you must acknowledge that this method is picking price turning points no matter which way you look at it.
Trend up until previous Friday was definitely UP, according to rules, the trade signal on Monday would be ignored?
PS - can only post 1 chart, seems a limit on noobs
PPS - 4 Hour chart added later
It takes a lot for me to IGNORE you, but you can try.
- #7,593
- Edited 6:55am Jul 9, 2011 6:41am | Edited 6:55am
- Joined May 2008 | Status: Grand Poopaw | 1,488 Posts
- #7,597
- Jul 9, 2011 7:30am Jul 9, 2011 7:30am
My goal in this thread is to attempt to enlighten traders to the reality of professional trading and many of the techniques required for consistency in the market.
[font=Calibri]It just so happens I use this system (TDI) primarily and have been for a while, which is why I was enthused and joined this thread. My other goal is to reinforce what the thread's author has provided.[color=black][FONT=Times...
- #7,598
- Edited 8:31am Jul 9, 2011 8:12am | Edited 8:31am
Questions
Do you trade all 4 hr candle posts throughout the day or just the one at night and in the morning?
Are you using something like 2 * ATR? Never mind, I found your answer here http://www.forexfactory.com/showthre...92#post4756692 I think getting something like a 100 pip drawdown when I wake up for my 4am candle would make me very sad.
How many pips are you talking about here?
Can you please share what hours you like and don't like?
Do you do any higher/low time frame confirmation?
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I hope you don't mind all the questions dcginc
Thank you for your great posts!
I get a least 3-4 valid signals per day on the 4 Hr charts.
I won't get into the math here, or the pairs I trade, but a fixed fractional money management system refers to what percentage of your capital to risk on the next trade and every trade thereafter and has many drawbacks.
One signal per day trading the TDI system on a 4 Hr chart is enough to make a lucrative living.
I know that specific times in the market are the most profitable and will add to my edge.
May I suggest that you trade the time frames noted by the author - 1 Hr and 4 Hr. High profitability and low stress.
------------------------------
I hope you don't mind all the questions dcginc
Thank you for your great posts!
- #7,599
- Jul 9, 2011 8:46am Jul 9, 2011 8:46am
- Joined Jan 2010 | Status: Primary Technical Trader | 8,593 Posts
My goal in this thread is to attempt to enlighten traders to the reality of professional trading and many of the techniques required for consistency in the market.
It just so happens I use this system (TDI) primarily and have been for a while, which is why I was enthused and joined this thread. My other goal is to reinforce what the thread's author has provided.
[font=Calibri][color=black][font=Calibri]It is my sincere hope...